Netflix stock tanks as Q3 revenue falls short: 'Nothing here to get excited about'

Netflix shares plunged over 11% in premarket trading after Q3 revenue guidance of $12.86 billion missed Wall Street's $13 billion expectation, with EPS guidance of $0.82 also falling short of the $0.84 consensus. While Q2 earnings beat estimates at $0.80 per share and revenue grew 13.4% year-over-year to $12.56 billion, US and Canada growth slowed to just 10%, and view hours growth decelerated to 2% in the first half of 2026.

Why it matters: Co-CEO Greg Peters defended engagement by saying 'not all hours are created equal,' citing live events as higher-value content, but a Bloomberg analyst called the results uninspiring as the stock has now fallen 40% over the past 12 months.